Holy Special Dividends: Tellabs
Trading halted on Tellabs Inc (TLAB) this afternoon after the company announced an incredible $1 special dividend per share. Mind you that when trading halted TLAB was at $2.95. You can bet this stock is going to the races once it starts trading again.
This is crazy pills and easy money -- straight from NASDAQ.com:
Tellabs Inc. (TLAB) announced that its board declared a special cash dividend of $1 per share. The dividend is payable on December 21 to stockholders of record as of the close of business on December 14.
The company stated that the special dividend is in addition to a stock repurchase announced on November 20. The company intends to repurchase its common stock under an existing Board of Directors authorization, previously announced on November 8, 2007. The company may repurchase up to $224.6 million under the previously announced repurchase program.
The company added that it plans to use part of its $942 million in cash, cash equivalents and marketable securities for the program. The company has no debt.
Fellow Masters, this is an unbelievable deal. Buy shares before Dec 14th if you want to play this action.
Tellabs special dividend is more than 33% of its current share price. You pay less than $3 (provided you can buy it that cheap after trading resumes) and get a $1 dividend one week later? If Tellabs is crack right now then hand me the pipe because I am about to smoke it. Thank you Pookie.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Conference Board Leading Economic Index Sees Fractional Decline in July | Financial Sense
- Joe Biden's Son Blames "Russian Agents" For Ashley Madison Profile | ZeroHedge
- The End Of "The Permanent Lie" Looms Large | ZeroHedge
- Here Comes a “Godzilla” El Niño | Financial Sense
- Leveraged Financial Speculation In The US At A Familiar Peak, Once Again | ZeroHedge
- Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State "Gold Standard" Propaganda Clip | ZeroHedge
- This Is What Happened The Last Time Malaysia Faced A Currency Crisis | ZeroHedge
The most relevant financial news and articles from the Internets
- Clock ticking as climate negotiators meet in Bonn | Business Insider
- 4 men face court hearing in Hungary for migrant truck... | Business Insider
- Nigerian official: Boko Haram trying to hit Lagos | Business Insider
- The 27 most... | Business Insider
- French sailors end Calais port blockade | Business Insider
- Supply Chain Management: The Next Big Thing? | BusinessWeek
- IS detains dozens in Iraqi town after rare street protest... | Business Insider